Why Veeva Systems Deserves Its Premium Valuation
The U.S.-China trade war torpedoed many growth stocks this year, yet shares of Veeva Systems (NYSE: VEEV) sidestepped the carnage and surged 80% in 2019. Investors are still paying a premium for the stock, which hovers near an all-time high and trades at nearly 70 times earnings.
Let's see why the bulls love Veeva and whether the stock still has room to run.
Cloud services company Veeva was co-founded by Peter Gassner, Salesforce's (NYSE: CRM) former SVP of technology. Its core customer relationship management (CRM) platform runs on the Salesforce1 app development platform, and its other services are tethered to Salesforce's marketing and service clouds.
Source Fool.com
